Marqevans

Just curious as to what type of experience anyone may have had when buying their Lexus at the end of the lease term.

markrivers

I did.
Not just with the Lexus but with other brands as well.
Here's a known secret, you can still negotiate the residual price.
Just like buying a new/used car, there's a lot of room for freebies/ add ons like additional maintenance etc.

Even though you can return the RX to any Lexus dealer, i find it better to go to the original dealer and talk to your sales person.
Warning, they will try to buy the RX from you and put you in a newer RX for the same monthly.
Especially if it's a low milage lease, the dealership can make more profit by turning it to a CPO.

I Used my credit union for financing bec it was lower that time.
My sales guy back then saidi could have gotten additional discount by using LFS/ TMC

Even if you don't keep the car, buying it at residual price and selling it privately, you can get $3,000-4,000 easy.

Marqevans

Thanks Mark, that's what I thought. My residual on a 2012 with Nav is $28,800 when the lease is up 4/30/2015. The car will probably have 36,000 miles then. Maybe I could get them to throw in an extended warranty. I am on 7th RX lease and was thinking I would buy this and maybe lease an NX. The sales tax rules for leases in Illinois become more favorable come January 1 in that you will only have to pay sales tax on the total lease payments. I am guessing the dealer will probably be selling cars like mine for around $38,000 at that point in time.

monacoDK

Mark,

This is good info about being able to negotiate the residual at lease end. Who did you have these negotiations with? LFS tells me I need to work with a local dealer for all things related to the end of my lease.

Thanks

monacoDK

Just spoke with LFS today about my upcoming lease end. I told them I was considering buying the car and they said they would send me the paperwork necessary to purchase the vehicle, along with detailed pricing inclusive of taxes and title.

They said I could go to a dealer to carry out the process but wasn't necessary unless I wanted to purchase an extended warranty.

Wondering if I might have better luck going through the dealer or if that will just lead to salesmen pushing me into another car instead?

Marqevans

Well I ended up leasing another Rx and bought a 2015 Highlander because our other 15 year old car died around the same time. When this 2015 lease is up I am definitely going to buy it out at the end!

rxbling

Good choice! i was seriously debating between the 2014 rx or a brand new 2015 highlander, my wife felt that the highlander was too big so we went with the rx. how much did you pay for the highlander and which package if u dont mind sharing.

Marqevans

The Highlander is only 3 inches longer. My wife was insistent on buying the Highlander because to her it looked so much bigger than the RX. I wanted to buy my 2012 RX out of the lease for $28,900 before tax and lease another RX. She was coming out of a Ford Windstar which was fantastic for tailgating. We bought a blizzard pearl Highlander Limited with floor and cargo mat, without the tech package for 39,500 before tax. Not a lot of room for negotiation as they are in short supply. We then leased a 2015 RX. I started another thread comparing the two.

rxbling

Yes, there is no wiggle room for negotiations whatsoever for the highlander here in norcal and socal as well. I tried speaking to the dealership about the price but they wont even budge. You chose a excellent color and option. I too would have went with that option with the startrooper seating (I think thats what the dealers called it) , excellent fleet of vehicles you have there!

I just purchased a rx yesterday and waiting for the nx hype to die down before I try to purchase another.